Beirut: The parliamentary Finance and Budget Committee, under the leadership of MP Ibrahim Kanaan, has made significant progress in its deliberations on the Banking Reform Bill, successfully approving key articles up to Article 21. The committee is scheduled to reconvene on Thursday to continue its discussions.

According to National News Agency - Lebanon, the meeting took place with MP Kanaan in the chair and was attended by notable figures such as Finance Minister Yassine Jaber and a diverse group of MPs including Ali Fayyad, Alain Aoun, and Georges Adwan, among others. The session also saw participation from Lebanon's Central Bank Governor Karim Souaid, as well as representatives from the Beirut Bar Association and the Central Bank's legal and communication departments.

MP Kanaan emphasized the committee's approval of provisions concerning the full powers of the Higher Banking Commission and the mechanisms for banking reform and recapitalization. He highlighted the importance of these reforms for the International Monetary Fund, which is concerned with the financial support it plans to provide to Lebanon. Furthermore, Kanaan stressed the broader goals of structural reform, accountability, and the restoration of confidence among citizens and depositors in Lebanon's state and banking sector.